Parliamentary Finance favors raising the dollar exchange rate to this price and expects to cancel the currency auction

Time: 10/14/2020 22:09:44
 
{Baghdad: Al Furat News} The Parliamentary Finance Committee suggested, on Wednesday, that the dollar exchange rate would rise to 1,500 dinars, while it expected the currency auction to be canceled.

Committee reporter Ahmed Al-Saffar said {to the Euphrates News} that "the central bank determines the exchange rate and the process of selling and buying the currency; but there is an opinion to raise the exchange rate of the dollar to 1500 dinars," indicating that "reducing the price of the Iraqi dinar will lead to inflation and the employee and income earners will bear its burdens Limited ".

Al-Saffar suggested "resorting to issuing cash temporarily in a specific amount to address the crisis and then treat it," expecting "canceling the currency auction because it is unfair and the beneficiaries of it are banks and individuals."

He added, "The original white paper came with urgency from Parliamentary Finance when the government introduced the loan law; now it included an excellent realistic reading of the financial and economic situation in the country, the reasons for bringing the country to this crisis and its solutions, and it also includes a financial policy and philosophy that includes five stages and immediate reforms."

Al-Saffar added, "The issue of partial salaries is simple and comes during the first stage, and the responsibility for determining them is one of the government's duties through restructuring the salary scale, which aims to deduct from the higher salaries and transfer them to the world."

And continued, "the investment budget includes 82 items and issues, and salaries will be dealt with within the law."

Al-Saffar added, "The project of financing the fiscal deficit included a monthly deficit of 10 trillion dinars, the monthly needs of 14 trillion dinars, and the estimated revenue 4 trillion dinars, and if the law is passed, the salaries will be secured for the end of the year."

He pointed out that "in the event that the health paper is approved in the House of Representatives, the current and future government will be obliged to implement all the provisions," suggesting "to abolish a group of unproductive ministries and merge them into one ministry."

Al-Saffar concluded his statement by saying, "Job opportunities are a human right, and the state must secure them for citizens. But not all of them are on the public sector. The solution is to start projects and development and legislate laws that achieve the same in the private sector as what is found in the public sector."

Wafa Al-Fatlawi

LINK